Weekly Update 01/06/2015

Recap on last week's trade ideas: NZD/USD order expired. The price pair did track lower on the basis of broad USD strength. GBP/AUD netted a healthy 300pip gain. An inside bar signal has formed again with a hammer pin at the key 2.00 level. Will stand aside for the time being and see how this scenario plays out.

Upcoming trades:

AUD/JPY

Contract Size:	100000
Currency Pair:	AUD/JPY
Spread:	0.5
BPV/Pip:	0.01
Position:	Short
Trade
Entry:	95.29100
Stop:	96.00000
Modified Stop:	96.02000
At Risk (BVPs):	72.90000
Target(1x):	94.58200
Target(2x):	93.87300
Target(3x):	93.16400
Target(4x):	92.45500

Week beginning 24/05/2015

Trade ideas to start the week off.

Short NZD/USD on an inside bar reversal signal. Continuation of trend observed. Targeting 0.71762.

Long GBP/AUD on an inside bar continuation signal. Targeting 1.99517.

Weekly Update 26/04/2015

Weekly Update 13/04/2015

Bruised, battered, and crippled, but back again for more!

Guess who's back? Yes, JT signing back on after another long absence. It's like riding a bike again - you never really forget. The only exception was that I was never good at riding the FX bike to begin with. So once again, I find myself bolting the training wheels back on.

Been looking back at the chart with fresh eyes and it helps. The key economic backdrops at the moment:
- The Greek deal, impacting Euro denominated pairs
- US Fed policy, impacting all dollar pairs
- Iran nuclear deal and the Saudi States oil price war, impacting Oil
- China slow down, killing the antipodean pairs

With that out of the way, he is my current currency trend chart.

Got burnt

So, for all the alignment we had in fundamentals and technicals,the Aussie remained stubbornly high. Price action continued to range and knocked out all my stops. Frustrating.

Not much in the way of price action setups today. Have an order for the AUD/JPY to short waiting on the sidelines. GBP/JPY also looks attractive with price below key resistance level.

Aussie Ripe For Selling

So after yesterday's not so amazing employment figures release, the Aussie has ended the trading day in negative territory. Technical indicators are pointing South and some nice setups appearing this morning:

Trades are set. Will be keeping a close eye on the price action today.